Searches And Hires
The commitments include a new relationship for the plan.
The city last conducted a search for the services in 2024.
The plan is seeking to consolidate to one provider from its current three through an RFP process.
The plan will seed a new strategy headed by a former senior managing director.
The pension system added up to $175 million in new commitments in April.
The pension fund may receive a recommendation on more specialized managers in the asset class later this summer.
The retirement association was notified of two real estate commitments and one private equity commitment last week.
The search follows underperformance within the asset class.
The plan interviewed four finalists in the search last month.
The plan is replacing an existing equity manager and making its first private equity investment since 2019.
